Question

Hello All. When we added that we received our stimulus payment, it lowered our refund amount, why?. According to the IRS, it should be considered income or taxable.

Forum|Forum|4 years ago
April 14, 2022
1 reply
0 views

No text available

TurboTax Live Self Employed

Employee

What you may not realize is that as soon as you began to prepare your tax return, the software was giving you the $1400 per person and it was shown on that "refund monitor" -----but when you entered that you received it already, the software had to reconcile the payment you received, You cannot get it twice---so it looked to you like you "lost" $1400 per person. You did not lose it or pay tax on it---you just cannot receive it twice.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**